Lyft Goes Public

Lyft beat Uber. Lyft filed IPO documents with the SEC last Friday, becoming the first ride-sharing app-based company to go public. They expect to be valued between $20-$25 billion.

Good news:

  • Revenue doubled from last year to $2.1 billion
  • Lyft has 39% of the U.S. ridesharing market
  • Bookings increased by 76% from last year to $8.1 billion

Bad news:

Lyft lost $911 million in 2018 (yikes!), claiming, “We may not be able to achieve or maintain profitability in the future.” The startup is hustling to outrun growing losses, blaming competitors, bike-sharing, and electric scooter businesses.

Lyft pushed their need for self-driving cars: “If we are unable to efficiently develop our own autonomous vehicle technologies or develop partnerships with other companies…our business, financial condition and results of operations could be adversely affected.”

Image Source: Curbed

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Lyft Goes Public

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